Dakota Drive, Newark, Nottinghamshire, NG24
- PROPERTY TYPE
- 10 year build warranty
- Contemporary Kitchen
- Semi detached House
- Integrated appliances
- Turfed garden
- Three storey house
We are excited to be offering a selection of 4 bedroom semi-detached house for Shared Ownership situated within the popular Fernwood Village.
Fernwood is located on the edge of Balderton, approximately 3 miles south of Newark giving easy access to the A1 which is perfect for commuting to both Nottingham or Lincoln. There is a range of local essential amenities including a day nursery, primary school, village hall, 2 public houses, convenience stores and fitness Gym.
These properties briefly comprise of a contemporary kitchen, separate utility area and Living/Dining Room on the ground floor. To the first floor there is a double bedroom with en-suite, a single room and the family bathroom. To the third floor there are two double bedrooms. Additional benefits include a garage and turfed rear garden.
Plots 348 & 349 - FMV £300,000
£120,000 for a 40% share (deposit from £6,000)
Monthly Rent on remaining share £412.50
£150,000 for a 50% share (deposit from £7,500)
Monthly Rent on remaining share £343.75
£225,000 for a 75% share (deposit from £11,250)
Monthly Rent on remaining share £171.87
Other shares can be purchased subject to an affordability assessment.
Examples of deposit rates are based on our minimum required deposit rate of 5%. However please seek financial advice to confirm what deposit rate is available to you.
Council Tax TBC - due to these properties being new builds and not being previously occupied the council tax and banding has not yet been set.
Service Charge - A service charge will be charged against the property and is paid monthly with your rent payment. The service charge is reviewed on an annual basis on April 1st. This will include Buildings insurance, management and any communal/estate charges that may be covered (if applicable). The service charge displayed is estimated based on the initial assessment of the scheme, please contact the sales consultant for details.
Ground Rent - Not applicable
Homes England Key Information Document - please refer to our website to read through our key information document for this property. This will include pricing details, eligibility and some lease information.
1. For further information, please download our brochure below.
2. TO APPLY NOW, please make an enquiry to contact Platform Home Ownership, the relevant sales consultant will then send you an application form to complete.
3. Upon receipt of your application, we will refer you for an affordability assessment to determine the most affordable share for you.
4. Once you have passed the affordability assessment, we will then be in contact to confirm the availability.
5. If there is a suitable property we will then issue out your offer letter and advice on how to pay your £250.00 reservation fee for your new home.
Shared Ownership is a fantastic opportunity if you're an unable to purchase a home on the open market. It allows you to buy a share in a property on a part buy/part rent basis and pay a subsidised rent on the part that you do not own. Over time, you can purchase more shares in your property - this is known as 'staircasing'. This can be done at any time after initial purchase and it will reduce the amount of rent you pay, as the share of the home that you do not own will have got smaller.
We will offer shares between 25-75% of the property value depending on the outcome of the affordability assessment. The higher the share you purchase, the lower your rent will be. You will need to be able to obtain a mortgage for the share you want to purchase unless you have sufficient funds to enable you to purchase a share outright. Deposit amounts will be lower than purchasing a property on the open market also the combined cost of mortgage and rent is often cheaper than privately renting in the area.
For more detailed information and your obligations in relation to shared ownership please download our 'Guide to Shared Ownership'
Am I eligible?
Shared Ownership uses the following criteria to help people to get onto the property ladder:
- Maximum annual household income of £80,000.
- Unable to purchase a home suitable for your needs.
*Please note some images are typical and should be used as a guide only
Tenure: Leasehold You buy the right to live in a property for a fixed number of years, but the freeholder owns the land the property's built on.Read more about tenure type in our glossary page.
GROUND RENTA regular payment made by the leaseholder to the freeholder, or management company.Read more about ground rent in our glossary page.
ANNUAL SERVICE CHARGEA regular payment for things like building insurance, lighting, cleaning and maintenance for shared areas of an estate. They're often paid once a year, or annually.Read more about annual service charge in our glossary page.
LENGTH OF LEASEHow long you've bought the leasehold, or right to live in a property for.Read more about length of lease in our glossary page.
990 years left
Council TaxA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council tax in our glossary page.
Dakota Drive, Newark, Nottinghamshire, NG24
NEAREST STATIONSDistances are straight line measurements from the centre of the postcode
- Newark North Gate Station2.9 miles
- Newark Castle Station3.2 miles
About the agent
Platform Home Ownership is part of Platform Housing Group.
At Platform Home Ownership, we have helped thousands of people to realise their dream of buying their own home over the 30+ years that we have been operating.
We offer an affordable route to homeownership, with properties available for outright sale, shared ownership and rent to buy
Across Platform, we have a commitment to make a real positive difference to lives of our customers and the communities they live in.
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Disclaimer - Property reference Fernwood_Plot348_40pc. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Platform Housing Group, Solihull. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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